Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Kellanova stock opened at $81.17 on Friday. The business has a 50 day simple moving average of $80.77 and a 200 day simple moving average of $70.58. Kellanova has a one year low of $51.02 and a one year high of $81.34. The company has a market capitalization of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on Kellanova in a research report on Wednesday. They issued a “hold” rating for the company. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, Wells Fargo & Company increased their target price on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Institutional Investors Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC raised its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.